Clairvest Group Inc.
TSX : CVG

Wellington Financial LP

Wellington Financial LP

September 28, 2005 09:00 ET

CVCA Names Wellington Financial LP Portfolio Company Airborne Entertainment Inc. its 2005 VC 'Deal of the Year'

TORONTO, ONTARIO--(CCNMatthews - Sept. 28, 2005) - Wellington Financial Fund II ("Wellington"), a privately-held $83 million specialty finance firm, is pleased to announce that the Canadian Venture Capital Association has chosen Airborne Entertainment Inc. ("Airborne") as its 2005 "Deal of the Year" for the Venture Capital category. Wellington advanced $3 million to Airborne in April 2004, which was repaid when CYBIRD Co. Ltd. acquired a majority stake in Airborne in June of 2005 at a US$90 million valuation. Other Airborne investors included Bell Mobility Investments, Insight Venture Partners and Telesystem Ltd.

"Wellington Financial is truly honoured to have been associated with what Airborne's management team and staff have accomplished in recent years," said Mark McQueen, President and Chief Executive Officer of Wellington Financial LP.

Since March 2004 Wellington has led over $68 million via 12 transactions, making it the most active fund of its kind in Canada.

About Wellington Financial LP

Founded in 2000, Wellington Financial LP is a privately-held $83 million specialty finance bridge lending, term and venture debt firm, providing debt financing for private and public companies in its chosen fields. Wellington transactions are generally between $2 million and $10 million, but the fund has issued term sheets up to $30 million due to its ability to syndicate transactions. Wellington clients vary in size, sector and business model, but generally have current year revenue of at least $5 million. Wellington is managed by a partnership controlled by Fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund II. Wellington's limited partners include several Canadian institutional investors, such as pension funds, life insurance companies and money managers. Please visit our website at www.wellingtonfund.com.

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